McLaren Group announces new board appointments including ex-Porsche CEO

British supercar maker’s new investment comes with new board appointments in tow

Elva

The McLaren Group, which encompasses its Automotive, Racing and Technology businesses, has announced five new board appointees following a £550million cash injection from both existing and new investment sources secured in this middle of this year.

Two of these appointments have been drawn from new major shareholders Ares Management Corp and Public Investment Fund (PIF), with one more coming from existing shareholder Mumtalakat. These three executive board placements will accompany their investment to support the long-term strategic growth of McLaren Automotive, which has been dealt various financial challenges before and during the global pandemic.

There has also been the appointment of two non-executive directors, brought onto the board to leverage their experience from time in leading roles across the automotive industry. These include Stefan Jacoby, who served as an executive vice president and president of General Motors’ international operations, as well as CEO of Volvo and the VW’s American operations before that. 

The second non-executive position will be filled by Michael Macht, ex-Porsche CEO and former member of VW's executive board. These experienced placements from the wider OEM car industry will help fortify McLaren’s future production and development activity as it moves towards a new generation of products, starting with the hybrid-powered Artura.

This news comes after further asset generation from the sale of the McLaren Technology Centre, and with investments into increased capacity and an all-new powertrain now paid for, the worst of the McLaren Group’s financial challenges should be over. This should mean big things for the Automotive business over the next couple of years, and with a pair of eCoty wins under its belt already, we can’t wait to see what it has coming up next.  

Recommended

New McLaren Artura revealed – all-new hybrid supercar to rival Ferrari F8 Tributo
McLaren Artura front
McLaren Artura coupe

New McLaren Artura revealed – all-new hybrid supercar to rival Ferrari F8 Tributo

McLaren’s next generation has arrived with a fresh powertrain, chassis and tech
7 Oct 2021
New Audi R8 V10 Performance RWD revealed with upgraded 562bhp V10 engine
Audi R8 V10 Performance RWD – front tracking
Audi R8

New Audi R8 V10 Performance RWD revealed with upgraded 562bhp V10 engine

Audi’s simplified the R8 range, upgrading the RWD model to 562bhp in both coupe and Spyder forms
7 Oct 2021
New Chevrolet Corvette C8 review – America's sports car has turned supercar
Corvette C8 Stingray EU – front
Chevrolet Corvette

New Chevrolet Corvette C8 review – America's sports car has turned supercar

Chevrolet's mid-engined Corvette is a superbly rounded and capable beginning of a new type of American supercar
5 Oct 2021
Lamborghini Huracán Evo review
Lamborghini Huracán Evo RWD – rear tracking
Lamborghini Huracan

Lamborghini Huracán Evo review

Intense, charismatic and far more resolved than its former self, the Evo is a brilliant supercar dominated by that superb V10 engine
17 Aug 2021

Most Popular

Officine Fioravanti Testarossa ­– stunning Italian revival revealed
Officine Fioravanti Testarossa
Ferrari Testarossa coupe

Officine Fioravanti Testarossa ­– stunning Italian revival revealed

Swiss firm reveals its first restoration based on the iconic Ferrari Testarossa Monospecchio
12 Oct 2021
2022 Honda Civic Type R spied – will it live up to its superb predecessor?
2022 Honda Civic Type R
Honda Civic Type-R hatchback

2022 Honda Civic Type R spied – will it live up to its superb predecessor?

The next-gen Honda Civic Type R has big shoes to fill, but first indications suggest it’ll have it sorted
13 Oct 2021
2022 BMW M3 Touring spied ahead of reveal
BMW M3 Touring
BMW M3 Touring

2022 BMW M3 Touring spied ahead of reveal

Photographers have spotted the upcoming M3 Touring testing on the Nürburgring before it reaches customers next year
14 Oct 2021